Can you claim audit insurance?
Will I be able to claim all my professional time? Yes. The professional fees you would normally charge your client to coordinate the audit response are covered (up to a pre-subscribed limit, and subject to the terms and conditions of the policy).
What does audit shield do?
What is Audit Shield? ... Audit Shield provides comprehensive, cost effective protection against the substantial costs that may be incurred should the ATO or other government revenue authorities conduct an official audit, inquiry, investigation, review or examination.
What is audit shield Australia?
Audit Shield is a tax audit insurance solution that accounting firms can add to their suite of client service offerings. Audit Shield has been available to accountants and their clients since 2003 and is now accessible to accounting firms in Australia, New Zealand, and Canada.